Chewy (NYSE:CHWY) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Chewy (NYSE:CHWY) had its target price lifted by equities research analysts at Deutsche Bank Aktiengesellschaft from $24.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential downside of 21.65% from the stock’s previous close.

A number of other research analysts have also recently commented on CHWY. JPMorgan Chase & Co. upped their price target on Chewy from $28.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, August 29th. TD Cowen started coverage on shares of Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price for the company. Wedbush restated an “outperform” rating and set a $35.00 price target on shares of Chewy in a research note on Thursday, August 29th. UBS Group raised their price objective on shares of Chewy from $21.00 to $30.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. Finally, Robert W. Baird boosted their target price on shares of Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 20th. Eight analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has an average rating of “Moderate Buy” and an average target price of $31.65.

Chewy Stock Performance

Shares of CHWY stock opened at $35.74 on Friday. The company has a market capitalization of $14.94 billion, a price-to-earnings ratio of 43.58, a PEG ratio of 3.29 and a beta of 1.06. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The company has a 50-day simple moving average of $29.85 and a two-hundred day simple moving average of $25.85.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion during the quarter, compared to analyst estimates of $2.86 billion. On average, sell-side analysts forecast that Chewy will post 0.32 EPS for the current fiscal year.

Insider Transactions at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. 1620 Investment Advisors Inc. bought a new position in shares of Chewy in the 2nd quarter worth about $33,000. Blue Trust Inc. lifted its holdings in shares of Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. bought a new stake in shares of Chewy in the 2nd quarter worth approximately $44,000. First Horizon Advisors Inc. purchased a new stake in shares of Chewy in the 2nd quarter worth approximately $48,000. Finally, Skylands Capital LLC bought a new position in Chewy during the 2nd quarter valued at approximately $52,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Company Profile

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.